KBR Keeps U.S. Air Force Ready to Fly, Fight, Win with $77M Honeywell Contract

HOUSTON, Aug. 20, 2019 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it has won a 10-year, $77 million firm fixed price, sole source contract from Honeywell Aerospace to provide logistics services for the U.S. Air Force at Hill Air Force Base Depot in Utah.

KBR will support the secondary power systems for the U.S. Air Force's F-15, F-16, A-10, B-1B, B-2, C-130, and E-3 aircraft as well as their ground based auxiliary power systems. KBR will perform this work as a subcontractor to Honeywell, which won the $1.036 billion performance based sustainment prime contract in 2018.

KBR will provide program management, engineering expertise, supply chain management and kitting to ensure all repairs to the power systems are efficiently completed to meet the warfighter needs. This contract is a follow-on contract originally awarded in 2007.

"This contract award speaks to the strong partnership we have built with Honeywell and the quality of work we perform for the Air Force," said Byron Bright, KBR President, Government Solutions U.S. "KBR will continue to deliver unique logistics solutions that assist the Air Force in increasing aircraft availability and reducing depot turnaround time."

KBR is a leading provider of sustainment engineering support to the U.S. Air Force, Army, Navy and Marine Corps and other federal agencies and foreign allies. Its solutions optimize life cycle costs, improve operational readiness, drive innovation, and help ensure mission success on land, in air, at sea, in space and in cyberspace.

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Solutions and Energy sectors. KBR employs approximately 38,000 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:

• Government Solutions, serving government customers globally, including capabilities that cover the full lifecycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics
• Technology Solutions, featuring proprietary technology, equipment, catalysts, digital solutions and related technical services for the monetization of hydrocarbons, including refining, petrochemicals, ammonia and specialty chemicals, as well as inorganics
• Energy Solutions, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU); program management and consulting services

KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

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Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

SOURCE KBR, Inc.